west*wales*news*review

West Wales News Review — analysis with a sustainability slant

Lloyds Bank to close in Llandovery

Lloyds Bank in Llandovery is to close completely on March 7th 2017.

As recently as 2012, Llandovery was home to four banks — Barclays, HSBC, Lloyds and NatWest. One by one, they have fallen victim to online banking.

HSBC, in Market Square, closed in 2012. Nat West, also in Market Square, shut its doors on June 1st 2015. Lloyds and Barclays soldiered on as part-time banks, Barclays open on Mondays, Wednesdays and Fridays, and Lloyds on Tuesdays and Fridays.

Now that Lloyds is to close, a part-time Barclays will be the only bank left in town.

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Lloyds Bank, Llandovery. Photo: Dyfed Family History Society, copyright Pauline Eccles, Creative Commons Licence 

The impending Lloyds closure is of more than commercial significance. The imposing building, Prospect House in High Street, was the final headquarters of the Bank of the Black Ox, the pioneering venture set up by successful drover David Jones in 1799, and taken over by Lloyds Bank in 1909.

Campaign to keep Lloyds open in Llandeilo

Llandeilo’s county councillor, Edward Thomas (Independent), started work at Lloyds in Llandovery in 1971, and regrets the ending of over 200 years of history. He is also worried about the future of Lloyds in Llandeilo, which has cut opening days from five a week to three – Monday, Wednesday and Thursday — and has written to Jonathan Edwards, MP for Carmarthen East and Dinefwr.

The letter raises Cllr Thomas’s concern that “the Llandeilo Branch of Lloyds Bank has only a short amount, two years, left on its lease of 137 Rhosmaen Street” and that there is a strong indication that “with the reduction of hours, reduction of days from five to three, that Lloyds Bank are planning to close this branch”.

“I am sure you will realize that that will leave Lloyds customers in North Carmarthenshire with no coverage and effectively their nearest branches will be Brecon or Ammanford,” continued Cllr Thomas.

“I am concerned that this will leave customers with no choice. The bank no doubt will state that they no longer see the footfall in their branches as customers are switching to internet banking. I am sure you will agree this is just cynical and does not look after older customers who are not happy to deal with a faceless computer and appreciate the good service provided by our local branches.

“I hope you will raise this matter at the highest levels and whilst I am singling out Lloyds, the other banks are doing the same thing and we could be faced with our rural communities without bank representation.”

HSBC has closed in Llandeilo as well as in Llandovery, leaving customers in northern Carmarthenshire facing journeys to branches in Ammanford, Carmarthen or Lampeter. Lloyds customers could soon face the same travel demands.

Mobile Lloyds Bank coming soon

Lloyds says that mobile branches should be in the area soon.

The bank’s spokesperson said that the Llandovery branch “has been identified for closure because of the changing way customers choose to bank with us, which has resulted in customers using it less often.  The majority of customers also now regularly use alternative branches or use other ways to bank such as online and telephone banking to complete their banking needs. We apologise for any inconvenience that this may cause and have informed customers of the closest alternative branches.

“We are also investing in a new fleet of mobile branches for Lloyds Bank to help customers in more rural communities, alongside other ways to access banking locally. One of the new mobile branches will visit Llandovery. Full details of the mobile branch service will be available in advance of the new service becoming operational.”

The bank said that around 80% of personal customers in Llandovery already use other branches, such as Llandeilo branch. In 2015, the number of personal customers using Llandovery branch fell about 36%, leaving only 35 regular weekly personal and business customers.

The Post Office is an option, says Lloyds. In Llandovery it is less than 200 metres away, and customers can deposit cash and cheques and withdraw money there. In addition there is an ATM outside Barclays Bank.

PDR

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2 thoughts on “Lloyds Bank to close in Llandovery

  1. I feel the consumer has to take some responsibility for the closure of local banks also; I know of several people and organisation within Llandovery whom on hearing their grumbles of Lloyd’s closing, I’ve inquired whether they’re going to close their account/s and move to support the only Bank in town, they’ve all said No.

    If a bank stops providing a local service why do the locals continue to support them?

    • Bank closures make the Post Office more important than ever — if Llandovery had no bank and no Post Office, that would counteract all the regeneration efforts

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